CONTRIBUTION TO THE NATIONAL ECONOMY 
CONTRIBUTION TO GROSS DOMESTIC PRODUCT

Gross domestic product (GDP) is the total value of all final goods and services produced in the economy. The GDP growth rate is the primary indicator of the state of the economy.
INSURANCE SECTOR’S SHARE OF GROSS DOMESTIC
PRODUCT (GDP), 2002-2006


($ billions)


 
 
Insurance carriers and related activities

Year
Total GDP
GDP
Percent of total GDP
2002$10,398.4$237.42.3%
200310,886.2255.02.3
200411,607.0267.72.3
200512,346.9264.52.1
200613,119.9280.92.1
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
  • Gross domestic product (GDP) is the total value of all final goods and services produced in the economy. The GDP growth rate is the primary indicator of the state of the economy.

  • The insurance industry contributed $281 billion to the $13.1 trillion gross domestic product in 2006.